Metro Brands' initial public offering (IPO) to raise Rs 1,368 crore will open for subscription on Friday, December 10. The IPO of Mumbai-based Metro Brands, a footwear speciality retailer, is a combination of fresh issuance of equity worth Rs 295 crore and an offer for sale (OFS) of equity worth Rs 1,072.5 crore.
The IPO will close for subscription on December 14.
Here are key things to know about the Metro Brands IPO:
Important dates: Bidding for Metro Brands shares will be available from December 10 to December 14. Metro Brands shares are likely to list on bourses BSE and NSE on December 22.
Issue price: Metro Brands shares will be available for bidding in a price band of Rs 485-500.
Lot size: Potential investors will be able to bid for Metro Brands shares in multiples of 30. At the upper end of the price band, one lot is valued at Rs 15,000.
Investor categories: Out of the total Metro Brands issue, 50 percent is reserved for qualified institutional investors, 15 percent for non-institutional investors and 35 percent for retail investors.
Company profile: Incorporated in January 1977, Metro Brands has evolved into a one-stop-shop for all footwear needs. Metro Brands operates brands such as Metro, Mochi, Walkway, Da Vinchi and J Fontini. As of September 30, Metro Brands operated 598 stores across 136 cities in India.
Financials: In FY21, Metro Brands' net profit stood at Rs 64.6 crore as against Rs 160.6 crore in the corresponding period a year ago. Its revenue from operations dropped 37.7 percent to Rs 800.1 crore in the year ended March 2021.
(Edited by : Sandeep Singh)
First Published: IST